Nigeria raises ₦729bn bond under power sector debt programme

Nigeria's Federal Government raised ₦728.9 billion via Series 2 of its ₦4 trillion Power Sector Multi-Instrument Issuance Programme, bringing total raised to over ₦1.1 trillion. The issuance aims to reduce power sector debt, but details on investor demand and yield are not provided. This signals continued fiscal intervention in the power sector, with implications for Nigeria's debt profile and electricity market reform.